How to get a City contract?

[BrilloPad]

City jobs are neary always for contractors with existing financial services experience good luck & all that jazz but what can you possibly offer that an existing candidate (there are always lots of city benchwarmers nowadays due to downsizing/outsourcing) is not going to be able to offer?

I heard that when I first applied back in 1986! Several applications later I got my break. I doubled my pay - thought I was earning all the money in the world.

Then I found these contractor types were earning 4 times what I was. I doubled my money(undercut them by half). But it gave me the experience and a city name on my CV.

Now I have had some good times. But I have lost tons of dosh to ex wives and dodgy business ventures. And now I am burnt out.

So before you squander your money on frivolities make sure you spend the majority on the essentials. Drugs. Hookers. CUK drink ups.

[LucidDementia]

City jobs are neary always for contractors with existing financial services experience

And they were all born with that experience were they?

How to get a city contract in 2 easy steps by LD

1. Apply for City contracts.
2. Repeat step 1. until you are successful


Audio books available in the lobby.

[WTFH]

If you want a City contract, all you need to be able to do is stop a really average team putting four past you.

[LucidDementia]

If you want a City contract, all you need to be able to do is stop a really average team putting four past you.

I was waiting for one of these.

[uk contractor]

City workers benchwarming squad could fill wembley stadium so go figure how much time/effort you should dedicate to that industry nowadays

[MrMarkyMark]

If you don't live too far away, travel and subsistence are not so important. In fact, not important at all.

How much T&S payments would it take, for you to go away for good

So before you squander your money on frivolities make sure you spend the majority on the essentials. Drugs. Hookers. CUK drink ups.

Just make sure you don't waste any

You don't always need experience.
Some financial institutions are easier to get into than others with no FS experience.
They will usually take a recommendation from someone else in the FS industry.

Once you are in, you are free to make all the big $$$$$$$$$$ everyone in FS makes.

Fill yer bleedin' boots, its a brilliant industry and everyone, working in it, loves it too

[uk contractor]

Fill yer bleedin' boots, its a brilliant industry and everyone, working in it, loves it too

Don't forget they also personally love you as a contractor making many times more than they ever could demonstrating the skillsets which highlight to management the difference between working onsite at many different FS clients vs staying in the same (used to be) safe job for decades at the same FS client stagnating & creating the need for an experienced contractor to fill their boots

[MyUserName]

The 600+ a day contracts are almost impossible to get unless you have the exact skills, proof of applying them and hit it off with the interviewers. In Investment banking anyway a lot of the work is on trade capture systems and they mostly work the same sort of way. Hence once I had experience in Statesteet's I was easily able to get to grips with BNPP's, BoA's etc. It will be people like me (or like I used to be) that you are up against. People who have often done very similar work as a contractor in a very similar institution and can show we did it well and that we can handle the culture.

I had a set of mates across the banks and we would look out for vacancies and if one opened and one of us was out of a contract we would try to get them in. If one of us was interviewing you whilst trying to get one of our friend's in then you might as well forget it.

Rates are dropping, contractors are facing increased competition due to the amount of lay offs happening in the finance sector as well as the lack of pay rises etc. which is causing more and more people to leave the permie world for the world they imagine contracting is.

I have only worked in investment banking in London but I would guess that other sectors of finance are similar. Keep applying and good luck but do not get disheartened if you end up just chasing shadows. You can barely swing a cat without hitting an experienced contractor in London who would jump on a 600+ a day contract.

[Dallas]

+1

[LondonManc]

You won't get £600+ for .NET; you're looking at £450 at best, probably less for your first City contract. Ten years down the line, knowing the ins and outs of trade netting, credit hedges, repos v reverse repos, etc and you could get towards that figure but you'll still struggle to reach it unless you're absolutely stand out and can work your way into front office positions.